Heating System Costs

Total Cost of Ownership 

There is more to your heating costs than just energy prices. When choosing a heating system it's important to consider the upfront costs of each option, and how that would factor in to your monthly mortgage. The table below provides examples for some common heating systems on PEI and incorporates the efficiency, upfront purchase and the monthly costs of heating. 

 

Where did these numbers come from?

The cost/MMBTU comes from the current prices for various energy sources on PEI.

  • efficiencyPEI updates the energy prices every 2 weeks, and they can be found here
  • Prices include taxes an exclude any service charges

Monthly cost is based on an average home (2000 square feet) consuming 95 MMBTU per year. 

Mortage is based on 25 years (300 monthly payments) and 5% interest. 

Fuel and system costs are estimates and may vary from those shown above.

 

 

 

 

Published date: 
March 20, 2017

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